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SOURCE Research and Markets
DUBLIN, Feb. 20, 2014 /PRNewswire/ --
Research and Markets
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Growth of the water treatment market is expected to boost demand for corrosion inhibitors. In addition, the increasing use of corrosion inhibitors for various steel and iron equipment within the construction industry is expected to contribute to the growth of the market. However, several environmental issues associated with raw materials are expected to hamper the growth of the market. Advanced technology which has resulted in the increasing use of green inhibitors and application of nanotechnology in corrosion inhibitors is expected to open new opportunities for the growth of the market over the next few years.
Organic inhibitors accounted for the largest product segment present within the corrosion inhibitors market with over 70% of the market in 2012. The absence of metals in organic corrosion inhibitors results in the prevention of unwanted chemical reactions. The increasing use of organic inhibitors in the oil & gas and construction sector is expected to drive the demand for this product segment. Organic inhibitors are expected to be the fastest growing segment within the forecast period due to the growing preference of consumers. Inorganic inhibitors such as molybdates are widely used in water treatment.
Water-based corrosion inhibitors dominated the market for corrosion inhibitors accounting for over 75% in 2012. Rising awareness regarding the harmful effects of volatile organic compound (VOC) emissions on human life coupled with low or negligible VOC emissions from water-based corrosion inhibitors is expected to the drive the demand for this application segment over the next few years. In addition, the growing demand for water-based corrosion inhibitors in high temperature applications such as oil extraction and refining is expected to be another factor contributing to the growth of the market. Oil/solvent based corrosion inhibitors are used in applications which require constant performance over long durations of time and continuous film thickness which provides uniform protection. They are used in applications such as automobiles and electronics.
Demand for corrosion inhibitors was highest from power generation sector in 2012 accounting for over 25% of the market in 2012. Oil & gas was the second largest end-use segment of corrosion inhibitors accounting for 19.4% of the market in 2012. Oil & gas is expected to be the fastest growing segment within the market due to the rising awareness of the losses caused due to corrosion. In addition, rise in industrial activities across various developed and developing countries is expected to drive the demand for oil & gas which in turn is expected to boost the corrosion inhibitors market.
Key Topics Covered:
2 Executive Summary
3 Corrosion Inhibitors: Industry Analysis
4 Corrosion Inhibitors Market: Product Segment Analysis
5 Corrosion Inhibitors Market: Application Analysis
6 Corrosion Inhibitors Market: End-use Analysis
7 Corrosion Inhibitors Market: Regional Analysis
8 Company Profiles
For more information visit http://www.researchandmarkets.com/research/3mwj3f/corrosion
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